UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Fulton Financial Corp.

In a report published Wednesday, Jefferies reiterated its Hold rating on Fulton Financial Corp.

, and slightly raised its price target from $10.00 to $11.00. Jefferies noted, “We bump our estimates up a nickel to $0.85/$0.85 in '13/'14, respectively, to reflect stronger loan growth and faster credit leverage. NIM compression and tough mortgage banking comps should drive revs. lower, but there is enough credit leverage to grow EPS in 2013. Mgmt. appears to be warming up to efficiency initiatives post system upgrade in 3Q13, which would help close the gap between our '14 estimate ($0.85) and consensus ($0.89).” Fulton Financial Corp. closed on Tuesday at $10.76.